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Based on comparative advantage, trade generally leads to finer division of labor and increased productivity. Nevertheless, we have to acknowledge that trade in a certain single sector may produce winners and losers. In the United States, some industries are bearing the brunt of traditional jobs becoming obsolete faster and the painful adjustments.

Bank of China (BOC) is the first Asian-headquartered direct participant in CHAPS (the Clearing House Automated Payment System)), which brings the total number of CHAPS direct participant to 25.

Ban described the pandemic as "a public health emergency more critical than the Ebola crisis in 2015", saying it's a "very demanding poverty scenario that deserves even more joint efforts".

Banks and offices in Abadan will be closed until the end of the week and entry corridors to the county from the north and east have been closed.

Bai cited the example of Brazil, a member of Mercosur, a common market in Latin America. The regional bloc's members have eliminated all tariff barriers that could affect their economies and apply a common external tariff to nonmember economies.